Don’t miss out on these May 2024 updates about the housing market!
Hey everyone, John Bolos here with your local market update for May 2024. This month, we’ve seen some interesting trends in the real estate market.
New listings have increased by 17% compared to last year. In May 2023, we had 4,600 listings, while this year, the number has risen to 5,452. Despite this increase in listings, pending sales have remained consistent with last year.
“Despite this increase in listings, pending sales have remained consistent with last year.”
However, closed sales have slightly decreased by 2.8%. On a positive note, the average sales price has gone up from $385,000 to $400,000. For a detailed look at these numbers, check out the Charlotte Region Market Update here.
For home buyers, now is a great time to enter the market with more inventory available, making it easier to find your ideal home. Sellers also benefit as we still only have a two-month supply of listings, maintaining a seller’s market.
If you have any questions or need more information about your home’s value or the buying process, please feel free to reach out via email.
